Exclusive: Saudi Aramco board sees too many risks for New York IPO - sources - Reuters:
The board of Saudi Aramco has determined that listing the state energy giant in New York would carry too many legal risks to make it a realistic option, five sources said, although they said a final decision lay with Saudi Arabia’s crown prince.
New York was the exchange favored by Crown Prince Mohammed bin Salman before plans for the initial public offering were put on hold last year, the sources said, even after Aramco’s lawyers and some government advisers had raised legal concerns.
New York offers the largest investor base in the world, vital for an IPO that aims to attract as much as $100 billion, a sum that could prove tough for other exchanges to raise. U.S. President Donald Trump urged the kingdom to list in New York.
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